Benchmark indices were trading marginally higher on Tuesday ahead of the Wednesday F&O expiry. The BSE benchmark, the Sensex was trading 45.54 points or 0.22% higher at 20,856.98 points, while the NSE's Nifty was trading 15.05 points or 0.24% higher at 6,201.15 points at 11.50 am IST.

Experts feel the markets are likely to remain volatile. "The market may remain volatile this week as traders roll over positions in the futures and options (F&O) segment from the near-month February 2014 series to March 2014 series. The near-month February 2014 F&O contracts expires on Wednesday," Standard Chartered analysts said in a morning note.

Asian markets were showing a mixed trend. The Nikkei (1.44%), KOSPI (0.66%) and Straits Times (0.11%) were trading in the green. Jakarta Composite (-0.58%) and Shanghai Composite (-1.07%) were trading in the red.

Meanwhile, shares of Ranbaxy fell 2.36% intra-day after the company halted shipments from its Toansa and Dewas plants. In an exchange release, the company said that the company is examining processes and controls at these plants.